NU Online News Service, Dec. 30, 2003, 5:52 p.m. EST – Actuaries are ringing in the new year with a new message: they are the "architects of financial security."[@@]
Actuaries will be sounding that message globally, according to Barbara Lautzenheiser, president of the American Academy of Actuaries, Washington.
Lautzenheiser cites the work that academy volunteers have done on capital adequacy projects such as the C-3, Phase II and Variable Annuity Reserving projects.
The C-3 project addresses risk-based capital criteria for variable products that include fixed-rate guarantees.